Alphabet (NASDAQ:GOOGL) Price Target Raised to $210.00

Alphabet (NASDAQ:GOOGL) had its target price raised by Mizuho from $205.00 to $210.00 in a report published on Wednesday morning, Marketbeat.com reports. Mizuho currently has an outperform rating on the information services provider’s stock.

A number of other analysts have also commented on GOOGL. Truist Financial boosted their target price on Alphabet from $190.00 to $196.00 and gave the company a buy rating in a research report on Wednesday. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the company an outperform rating in a report on Friday, April 26th. Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an overweight rating in a research note on Wednesday. Finally, Evercore ISI raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an outperform rating in a research note on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $203.74.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $167.00 on Wednesday. The stock’s 50-day moving average is $179.04 and its 200 day moving average is $160.35. Alphabet has a one year low of $120.21 and a one year high of $191.75. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business earned $1.44 EPS. Equities research analysts anticipate that Alphabet will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,388 shares of company stock valued at $21,497,609. 11.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at approximately $15,441,917,000. Capital Research Global Investors raised its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. boosted its position in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.